The global IT spending in transportation market is expected to grow at a significant CAGR during the forecast period. It is defined as an investment or spending in the transportation system and its related activities in terms of devices and solutions. IT spending has been increasing across several transportation modes including airways, roadways, railways and waterways. IT solutions enable drivers and passengers in a vehicle with information regarding schedules, weather condition and traffic updates that increase transportation efficiency.
The rapidly increasing investments in the enlargement and evolution of infrastructure raise the demand for IT spending. The emergence of mobility solutions with a rising focus among the number of start-ups is an additional factor that is projected to surge the market growth and create ample business opportunities for IT spending in the transportation market. Furthermore, the market growth in terms of market shares and revenues generation was studied based on segmental analysis. IT spending in the transportation market was segmented by type, by application and by region. Based on type, the market is further classified into hardware, software, solutions and IT services segments. The hardware segment generates significant shares and revenues for the market as it is mainly attributed to involve in emerging infrastructure and integrate analog transformation to a digital system to improve reliability and accuracy.
Based on application, the global IT spending in the transportation market is classified into airlines, railways, waterways and road transport. The airlines segment witness substantial growth in the market and exhibit the highest CAGR during the forecast period. This has been resulting owing to the increasing upgradation and evolution of infrastructure in the transportation vertical. Several airlines’ administrations including domestic and international airlines have been upgrading their infrastructure coupled with increasing demand for cargo movements owing to the increasing e-commerce industry. Additionally, the rising IT spending in the airlines transportation segment are some major dynamics that is projected to dominate the segment throughout the forecast period and flourish the market growth of the global IT spending in the transportation market.
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Market Coverage
- The market number available for – 2021-2030
- Base year- 2022
- Forecast period- 2023-2030
- Segment Covered-
- By Type
- By Application
- Competitive Landscape- Accenture plc, Cisco Systems, Inc., IBM Corp., Siemens AG, and Atos SE.
IT Spending in Transportation Market Report Segment
By Type
- Hardware
- Solutions
- IT Services
By Application
- Airlines
- Railways
- Waterways
- Road Transport
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IT Spending in Transportation Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
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